Difference between revisions of "Laissez faire"
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| − | '''Laissez faire''' (let us do) is the economic theory of a true [[free market]] with no [[government]] intervention. Modern press approximately translates ''Laissez faire'' into, "Do what you will", from French. A noted [[advocate]] of the ''laissez faire'' style of economy was [[Adam Smith]], who pioneered the theory of modern [[capitalism]], but as [[Thomas Malthus]] and [[David Ricardo]], did not use the term. | + | '''Laissez faire''' (let us do or let us work) is the economic theory of a true [[free market]] with no [[government]] intervention. Modern press approximately translates ''Laissez faire'' into, "Do what you will", from French. A noted [[advocate]] of the ''laissez faire'' style of economy was [[Adam Smith]], who pioneered the theory of modern [[capitalism]], but as [[Thomas Malthus]] and [[David Ricardo]], did not use the term. |
| + | == External links == | ||
| + | |||
| + | *[http://dictionary.reference.com/browse/laissez%20faire Dictionary.com] | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 01:36, December 6, 2007
Laissez faire (let us do or let us work) is the economic theory of a true free market with no government intervention. Modern press approximately translates Laissez faire into, "Do what you will", from French. A noted advocate of the laissez faire style of economy was Adam Smith, who pioneered the theory of modern capitalism, but as Thomas Malthus and David Ricardo, did not use the term.
